N.C. Gen. Stat. § 36C-4-418

History

(1999-266, s. 2; 2005-192, s. 2; 2007-106, s. 18.)

NORTH CAROLINA COMMENT

This section, not a part of the Uniform Trust Code, was added by the drafters to cover in one section the distribution of property upon termination of the trust. The first sentence of the section contains the provisions of sections 411(c), 412(c) and 414(c) of the Uniform Trust Code regarding the persons to whom distribution of such property is to be made. The remainder of the section brings forward the provisions of former G.S. 36A-125.10 regarding the manner in which distribution may be made if minors or incompetents become entitled to trust property upon termination of a trust. It does not authorize other methods of distributions on behalf of a minor or incompetent that are permitted under G.S. 36C-8-816(21).

SUPPLEMENTAL NORTH CAROLINA COMMENT (2007)

Effective October 1, 2007, this section is amended (i) to clarify the manner in which trust property is to be distributed upon termination of the trust pursuant to specific sections of Article 4 of Chapter 36C, and (ii) to delete the provisions concerning distributions of property distributable to a minor or incompetent because the same provisions appear in substance in G.S. 36C-8-816(21).